The globalization of corporate activities and the accompanying development and dissemination of internationally recognized accounting principles lead to an increased influence on national accounting standards. The International Financial Reporting Standards (IFRS) have particularly emerged as an international reference system for external financial reporting. Thus, all capital market-oriented groups are required to apply IFRS. In Germany, many of the updated commercial law regulations for consolidated financial statements from the Accounting Law Modernization Act (BilMoG) have been derived from IFRS. This is especially true for consolidation techniques and the classification of the companies to be included. Thomas Kümpel and René Pollmann outline the fundamentals of the IFRS consolidated financial statements, focusing primarily on the delineation of the consolidation scope.